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HomeMy WebLinkAboutR04-Redevelopment Agency o o o o DB9BIDBa1' IIIPARI!ar or mil ern or BIll ~ D"~ ICR ~aaTlWJ.I.._~.I. .,...,...,.. Fran: mlNElH J. H!HERSC:.N ~:rt:iw Directar Date: April. 2, 1991 SUbject: ~J1lJIVB RIGII'.l' m IUUJ'r.LA1'l!l WlTB W'T.'I'- DIVBlDiMBHT ~ ItIl. ~oa CITI- IBM PIUJBCS' .. ~ 01' .. .u-.I.D All) .... D"oDUUi.L-B 8yJIcpsia of Pn9iaus n.-.~ -1.Clll/nr.~ lIClC111111it.tee ~an: on NaIr..t.....,. 20, 1990, the ~""""",1L Q:mnittee autharlzed staff to fo1lCl!M1p en the initial .....~ 8UbDitted by Wi1.......... Dev8l............iL Cul:}tl4aticn (aka: Elderly Devel~it o.u.~atien) in omer to Gbtain additia1aJ. detailed infatmaticn. on March 14, 1991, the ~""""""t Q:mnittee reo .......vDed to the o--"lity Delle- 1...........1L n--~-i.cn that the Ex8c:utiw Directar be autharlzed to 8ll8O.lte an Exclu- sive Right to Negotiate 1.0".._4. with Wi1Dme Dev8l............it COtporati.at (aka: Elderly Devel...........iL o.u.~aticn). (SZa4'"'i. 0CIIlt:imJed to IIlIKt PlIg8) .., ....4.1At! JIotiOll: In......<fb n...1._ ~t n...raol_oIcm) 'DmT 'BIB ~1.,I:i IBVBIDBIIIrr ~ .....__TU BIB J:iAILV.....Lyli tu......~.b. CJP THE IBVBIDBIIIrr -~ m JIiUiUU'.l15 _ I!lIr"I'nIItVB RIGII'.l' m IUUJ'r.&A'1'B ";1>,~~ WlTB 1IIIKlRB IBVBIDBIIIrr ~ (AD: Blder1y Dfi'oll. '1 -"t oorporatian) ~, BDtutive Dimctor D8Q1~t DlIpUt:DIeDt contact PeLIMA-I: Ken. RarrlA"""""lr~..., Waacner lb:me: 5065: 5081 WUd(s) : one (ll Project Area: Olllhl.a.al City North (CX:N) ~ Data AtI:actled.: PUNDIN:; ~: sr...~~ -. .:a:'t: Exclusive Riaht to w..nnt-i"te Doco""""* Amcunt: S N/A source: B.D:let Authority: ~""Clll/nr........!1 Notes: o RIH:GW:lab:4299 ~ Ita No: ---.!t..-- o o o o IBVBIDl'IIBIf.r IJIlIA1mBfl' RIIqUe8t far n.-I_4 Cll/ON-l klticm. April 8, 1991 P8ge -2- 8yDCIpIIi. of Pnvious nr-4-iCID/ONW'il/OCIIIIIittee klticm.: On April 1, 1991, the l'hmlmity DeYel~d. thmli....tcn CXI'IS.idered this item an:i referred the matter back to the RsdIIYel~/t OCIIIIIittee for further review. On April 4, 1991, the Rsdsvel~IL OCIIIIIittee cxmsidered this item an:i reel ....-.-ad ~ to the """"""lity DeYel~jL cn-i ....ia1 authorizin'J the Ex8cuti.ve Director to C' ....-.'ICe negct:iaticIlS of a six (6) mcnth Exclusive Right to Negotiate ~/t with wilmore onpc.ratian. o KlH: lab: 4299 CX>>AfT1IaT-=- JUiI5'.L..uG Jfeet.i.Dg Date: 04/15/1991 o o o o DBVBLOPIIIIIT DBPAmmaJ: sun: RIPORr o Vil-.ftre Develft--ant COrDOration (.~.: Elderlv Develoument Cornorationl - ~~lU8ive Riaht to Neaotiate The Development Department received a request from Elderly Development Corporation (Developer) relative to the execution of a six (6) month Exclusive Right to Negotiate (ERN) agreement for development of a 1.01 acre parcel presently owned by the Department at the northwest comer of 5th and "E" Street for the developement of a senior citizen assisted living facility for low income Social Security recipients. Staff previously met with the developer who has agreed Exclusive Right to Negotiate agreement under the conditions: to execute a proposed following terms and 1. That said agreement be for a term of six (6) months. 2. . The submission of a five-thousand dollar ($5,000) good faith deposit. 3. Within a four (4) month period the developer will submit: a) A detailed description of the proposed development including uses, approximate square footage of buildings, tentative designation of parking and landscaped areas, users/tenants (if known) for the site. b) Marketing reports describing and substantiating (on a preliminary basis) the undertakings proposed by the developer. c) Estimate of development costs and supporting data with respect to the site. d) An economic feasibility study and key assumptions as feasibility, such as development timing and any expected from the Department. to economic commitments e) The estimated scheduling of the proposed development. f) The proposed source and method of financing. g) Detailed biographical and background description of the developer. h) Access to audited financial statements for guarantors. It is anticipated that the project will contain one-hundred, fifty (150) units and will utilize federal and state funding sources. The developer has experience in this type of development and appears to have the knowledge and capability of accessing federal and state funds. KJH:GW:kak:3780H COIIUSSION IlBETING Meeting Date: 4/15/91 o o o o DEVELOPMENT DEPARTMENT STAFF REPORT Exclusive Right to Neogitate Agreement Senior Citizen Project (Northwest Corner of 5th and "E" Streets April 8, 1991 Page -2- o The developer anticipates spending up to $75,000 to submit the material required to reach the point of negotiating a final agreement. An ERN will provide the developer some assurance that they will not expend this money only for the City to go with another developer. The ERN obligates the City to do nothing other than negotiate in good faith for six (6) months. The attached Exclusive Right to Negotiate agreement has been approved by Development Department Counsel and executed by the developer. It should be noted that Elderly Development Corporation is in the process of being formed and the Exclusive Right to Negotiate is with Wilmore Development Corporation, which is an established corporation. It is anticipated that the Exclusive Right to Negotiate agreement will be assigned to Elderly Development Corporation when it is legally formed. On April 4, 1991, the Redevelopment CODDDittee considered this matter and recommended to the Community Development CODDDission approval of this item with the provisions that the Exclusive Right to Negotiate (ERN) agreement be amended to reflect the development and submission of an economic feasibility study during the period of the Exclusive Right to Negotiate (ERN) agreement. Staff recoDDDends adoption of the form motion. &IUUU5Y~OlI' Executive Director Development Departaent KJH:GW:kak:3780H COIIIISSIOK IlBETING Meeting Date: 4/15/91 '0 o o .At:1nfRlftll:nr TO Dt:oTI.lTR EXCLUSIVELY by and between the DEVELOPMDT DIPARTMBlb OF THE CITY OF Sd BlIl1\UDINO, and WILMORE DIVILOPMEIlT CORPORATION "DIVILOPlR" o CENTRAL CITY BORTH PROJECT ARIA Dated a. of , 19_ o o o YART.W 01' COl!ITRIITg 2 o VI. [1600] C~IOB'S RESPOBSIBILITIES 0 A. [1601] RedeVel01llllent Plan 0 B. [1602] Public Bearina VII. [1700] SPECIAL PROVISIONS A. [1701] Real Estate Commission B. [1702] Press Releases C. [1703] Bondiacrimination D. [1704] Botice E. [1705] Other Aareementa F. [S706] Warranty of Sianators VIII. [1800] LIMITATIONS OF mIS AGUIMEB1' EXHIBITS o Exhibit A Site Map o 3 o o o o o .lGRDMRWT TO DGOTUTE EXCLUSIVELY THIS Al:IlEEMERT to DOOTIATI IltCLUSIVBLY (the "Acre_ent") 18 entered into this _ day of , 19_, by and between the CO!IIIJ1UTY DEVELOPMUT COMMISSION or THE CITY or SAR BlRlURDINO on behalf of the DEVELOPMERT DEPAlTMERT or THE CITY or SAN BlIlRARDIBO, a public: body, c:orporate and politic: (the "Department"), and WILMORE DEVELOPMENT CORPORATION (the "Developer"), on the terma and proviaions aet forth below. . THE DEPAlTMERT AND THE. DEVELOPEI BEREBY AGUE AS FOLLOWS: I. [1100] DGOTUTIONS A. [1101] ~oQd Paith .~.Dtiation. The Department and the Developer agree for the Negotiation Period aet forth below to negotiate diligently and in lood faith to prepare a Diaposition and Development Acre_ent (the "DDA") to be c:onsidered for exec:ution between the Department and the Developer, in the maDDer set forth herein, with respec:t to the development of c:ertain real property (the "Site") 10c:ated within the boundaries of the CERTRAL CITY BORTH Redevelopment Projec:t (the "Projec:t"). The Site is shown on the "Site Map," attaehed hereto as Exhibit A and inc:orporated herein by reference. The si te is owned by the Redevelopment Agenc:y of the Ci ty of San Bernardino. 4 o o o o o The Department eareea, durina the Becotiation Period, as hereinafter defined, and provided that thia Acreeaent remaina in effect, not to enter into an eare8llent that does not include the participation of the Developer recardina the development of the Site without the conaent of Developer; provided, that the forecoina aha11 not be de8lled to prevent the Department from furnishing to anyone public records pertaining to the proposed development. Botwithatanding the foregoing. the Developer acknowledges that its rights hereunder are subject to the Department's ob1icationa under State lsw and the ledeve10pment Plan for the Project (the "Plan"). inCluding. but not 1i11ited to the conduct or diaposition of any proceedings Which require DD,tice and s public hesrina. the California Environmental Quality Control Act. and the requir8llente for the DeVeloper and/or the Department to obtain certain spprova1s from other public entities. The ob1ication to necotiate in good faith requires that Developer communicate with Department with respect to those issues for which acreement has not been reached, and in such communication to follow reasonable necotiation procedures inc1udina .eetinas, telephone conversationa and correspondence. It is understood by the parties that final accord on those issues aay not be reached. B. [U02] Reauired Aetfons. (1) Bot later than July 31, 1991, the developer shall submit to the Department s "Development Concept Package". the Development Concept Package shall include the following:r 5 o o (a) a detailed deacription of the propoaed o development, inc1udina uses, approxilllate square footage of buildinas, tentative designation of parkina and landscaped areas, users/tenants (if known) for the Site; (b) lllarketina reporta deacribina and aubatantiating (on a preliminary basis) the undertaklnas proposed by the Developer; (c) an economic feaaibi1ity atudy indicatina to the satisfaction of the Department that the proposed development is economically feaaib1e and represents the highest and best use of the property. o (d) estilllate of development costa with aupporting data with respect to the Site; (e) key assumptions as to economic feasibility, auch as development timina, and any cODlDitments expected from the Department; (f) the proposed schedu1ina of the proposed development; (g) the proposed source and method of financina; (h) detailed biographical and background description of the proposed Contractor/Developer (and all principals in the proposed development entity), including such lllatters as (i) prior record with respect to the completion of projects, particularly those of a scale comparable to that proposed herein; (ii) record of timely performance ref1ectina minimal litigation and/or disputes concernina the payment of o 6 CD o o II o o joint venturers, contrsctors, suppliers, or taxina authorities and (iii) record of satisfactory operation of analaloua projects. It is underatood that the Department may take appropriate steps to veri~ such matters, and the Developer agrees to cooperate in furnishing such information to the Department; (h) access to audited financial statements for luarantors (the Developer acknowledaes that personal lusrantees may be required with respect to oblilations of the Developer in the event the Developer does business in a corporate or partnership form) so long as these are not to become a matter of public record; and (2) Promptly upon receipt of the Development Concept Package, the Department shall review the deVelopment concept propoaed by the Developer, together with the remainder of the Development Concept Package, and may either reasonsbly approve it, request modifications or reject it. If any such items are rejected, the Department ahall provide s list of deficiencies to the Developer, and if these deficiencies are not corrected to the aat18faction of the Department within thirty (30) days of such rejection, this Aareement shall automatically terminate unless it 18 extended by the mutual written asreement of the Department and the DeVeloper. (3) If the Department approves the Development Concept Package, then, within sixty (60) days from the date of such approval, the Department 7 o o and the Developer aha11 continue to neloti.te tow.rd the ez.cution within o auch period of . DiapoBition and Development Alreeaent (the "DDA") with reapect to the dev.10pment (the "Development"). Durina thia 60-4., period, the Developer aha11 prep.re and aubmit an .rchitectur.1 conc.pt of the propoa.d D.velopment. If. DDA haa not been entered into on or before October 1, 1991, this Alreeaent ah.11 b. .utomatic.11y t.rminat.d unless it has been e.r1ier terminated or ia ezten4ed .a provided herein by mutual writt.n .areeaent of the Dep.rtment and the Developer. If a DDA is aianed, it aha11 auperaed. this Exc1usiv. .eloti.tion Alr.eaent. - c. [5103J .e.oti~tiOD Period the dur.tion of thia Alr.eaent (th. ....Ioti.tion P.riod") aha11 b. frOlll the d.t. of ez.cution of this Alr.eaent by the D.partment, until o October 1, 1991, unl... aooner terminated purauant to the provisions of this Alreeaent. the .eloti.tion Period aha11 not b. ezten4.d by periOdS for cure of d.f.u1ta. D. [5104J DeDoait Prior to the ez.cution of thia Alreeaent by the D.p.rtment, the D.ve10p.r aha11 aubmit to the Dep.rtment . lood f.ith deposit (th. "D.posit") in the amount of FIVE TBOUSAKD DOLLARS ($5,000.00) in the form of either c.sh or an irrevoc.b1e letter of credit that ia aatisfactory to the Department's 1ela1 counsel to ensure that the Developer will proceed o 8 o o o J ..I. o o dili&ent1)' 8Dd in &ood faith to nqotiate 8Dd perfol'll all of the Deve10per'a ob1ilationa UDder thia Alre..ent. If the Depoait ia in the form of an irrevocable letter of credit, the DeVeloper &hall _intain auch letter of credit in full force 8Dd effect for the entire .elotiation Period hereUDder, and aha11 eztend the letter of credit to the extent thie Alreement or varioue time perioda hereUDder are extended. 7he Department aha11 nave no ob1i&ation to earn interest on the Deposit. Any interest earned on the Deposit shall be the ao1e propert)' of the Department. In the event the Developer haa not continued to nelotiate dUiient1)' and in &004 faith or haa faUed to tille1)' d1achar&e ita reaponaibi1itiea purauant to Section 102 of this Alreement, the Department aha11 live written notice thereof to the Developer who aha11 then have ten (10) worldne da)'a to coaaence ne&otiatine dili&ent1)' and in &ood faith or, with reapect to a failure purauant to Section 102 of this Alreement, thirty (30) da)'s to cure irrespective of the lood faith of the Developer. Followine the receipt of .uch notice and the faUure of the Developer to thereafter commence ne&otiatine in &ood faith within .uch ten (10) working daya or to cure a failure pur.uant to Section 102 within thirt)' (30) calendar daya, thia Alreement ..y be terminated by the Departlllent. In the event of such termination by the Department for a reason other than the failure of the Developer to negotiate in &ood faith, the Deposit shall be returned to the Developer and neither part)' shall have any further rights a&ainst or liabUit)' to the other under this Aareement. 9 c o o - o o THE PARTIES Al:III !llAT III THE I\I1II1' THE DEVELOPER PAILS TO Dl;OTIATI DILIGlllTLY Alm III goOD PAITH Alm THIS IC1lR1!"Ilm".l" IS TERMIIIATID 011 !llAT BASIS, THE DIVILOPIIBIIT WOULD SUSTAIII LOSSES WHICR WOULD BE UIIC1RTAIII. SUCH LOSSES WOULD IIICLUDE COSTS PAYABLE TO ADVISERS Alm STAPF TIllE ALLOCATED TO THE PREPARATIOII OF THIS AGREEMENT Alm ITS IJIPLIMENTATIOII, AIID SUCR VARIABLE FACTORS AS THE LOSS OF OTHER POTlllTIAL DEVELOPIIBIIT OPPORTUIIITIES WITH RESPECT TO THE SITE, PRUSTRATIIIG Alm DILAYIIIG THE IMPLIlMERTATIOII OF THE REDEVELOPMENT fLAIl Alm POREGOIIIG IWtIMIZIIIG EFFORTS TOWARD IIICREASIIIG TAX IIICREKEII1' UVIIIUES, PROVIDIIIG IMPLOYMEII1', IIICREASIIIG PRIVATE IIIVIS!MEII1', AIID THE ATTAIIIMEIIT OF OTHER OBJECTIVES OF THE REDIVILOPMEIIT fLAIl. IT IS IMPRACTICABLE AIID EXTREMELY DIFFICULT TO PIX THE AI!OUIIT OF SUCH DAllAGES TO THE DEVELOPMEIIT, BUT THE PARTIES ARE OF THE OPIIIIOII, UPOII THE BASIS OF ALL INFORMATIOII AVAILABLE TO TREM, !llAT SUCH DAllAGES WOULD APPROXIMATELY EQUAL THE AIIOUIIT OF THE DEPOSIT (WITH AllY llITEREST EARllED THEREOII), Alm SUCH AIIOUIIT SHALL BE RETAIDD BY THE AGUCY III THE EVERT THIS AGREEMENT IS TERMIIIATID BY THE AGUCY POR THE CAUSE SET FORTH III THIS PARAGRAPH. THE DEVELOPER Alm THE Af:IIICY SPEClnCALLY ACDOWLEDGE THIS LIQUIDATED DAllAGES PROVISIOII BY THEIR SIGIlATURE BILOW: ~ Developer Initial Here ment Initial Here Depart 10 o o o o o In the event the Department fails to neaotiate dililently and in lood faith, the Developer ahall live written notice thereof to the Department Which ahall then have ten (10) workina days to cOllllence nelotiatina in lood faith. Followina the receipt of wch notice and the failure of the Department to thereafter cOllllence nelotiatina in lood faith within such ten (10) workina days, thb Aareement MY be terminated by the Developer. In the event of such termination by the Developer, the Department ahall return the Depoait (with any interest earned thereon) to the Developer, and neither party shall have any further riahts ..ainet or lisbili ty to the other 11IIder thb Aareement. Upon aut_tic terminaton of this Aare..ent at the expiration of the lI'elotiation Period or such eztenaion thereof, or upon execution by the e_bson and the DeVeloper of a DBA, then concurrently therewith, the Deposit hereunder ahall be returned to the Developer and neither party ahall have any further riahts ..ainet or liability to the other under this Aareement. If a DBA has been executed by the Department and the Developer, the DDA shall thereafter lovern the riahts and oblilations of the parties with respect to the development of the Site. II. [5200] DBVELOPMERT CONCEPT A. [5201] SeDD@ of DevelDDment The nelotiatione hereunder shall be based on a development 11 o o o o o concept which ehall include the devel01lllent on the Site of a smol CITIZEN COMPLEX, Deaian and architecture will be developed durina the neaotiation of the DDA. B. [1202] nAv.loD.r'a Pindln... De~.~iDatlona. Studt.. and lenorts Upon reaaonable notice, aa from time to time requested by the Department, the Developer aarees to aske oral and written proareas reporta sdvisina the Department on all matters and all studies beina made b7 the Deveioper. Further, at thir,ty (30) day intervals from the date of execution of this Aareement b7 the Department, the DeVeloper shall provide a written report to the Department concernina its proaress in preparina alte plana, floor plana, elevationa and time schedules for development of the Site. III. [1300] PIJJlCRASE PIICE AIm/OI 0TIIEIl COllSIDEIU.TIOll The purchase price and/or other conaideration to be paid b7 the Developer under the DDA will be eatabliahed b7 the Department after negotiation with the Developer. Such purchaae price and/or other consideration will be baaed upon auch factora as market conditiona, density of development, coata of devel01lllent, risks of the Department, risks of the Developer, eatimated or actual Developer prOfit, public purpoae and/or fair value for the uaea permitted to be developed and financial requirementa of 12 o o o o o the Department, and will be aubJect to approval by the Department and by the Co_on Council of San Bernardino after public hearinaa aa required by law. IV. [1400] TIlE DEVELOPER A. [1401] Rature of thll!! DeveloDer The Developer ia a CALlFORIlA CORPORATIOR B. [1402] Olfie. of the DeveloDer The principal office of the Developer ia: 3080 Briatol Street Suite 250 Coata Meaa, California 92026 C. [1403] The DeyeloDer'. Conaultants .ft~ Profe..ional. The Developer'a architect will be: DAHIEL J. HAGGERTY, AIA AND ASSOCIATES, IRC. 377 West California Avenue, Glendale, California 91203. The Developer'. enaineer will be: SAME AS ABOVE. 13 o o The Developer's attorney will be: IDGAI C. JOBISOK, JR. Attorney c::; at Law, Johnson and O'Brien, 3080 Bri.tol Street, Suite '250, Co.ta Me.a, California 92626. I I I I I 10 o D. [5404] A..iftUnent rhiB Acre_ent shall not be a.a1aned 11)' the Developer without prior written approval of the Department, which the Department shall arant or refuae at its sole diseretion; provided that assicnment. propo.ed with finaneial inatitutiona for finaneina purposes shall be 8ubjeet to rea.onable review and approval of the Department. E. [1405] Pull D.f..~lo.ure The Developer i. required to make full di.elo.ure to the Department of its prineipal., offieers, major stoekholders, major partners, joint venturers, key aanaaerial employee. and other a.soeiate., and all other material inforaation eoneernina the Developer and its a..oeiates. Any sianifieant chanae in the prineipals, s..oeiate., partners, joint venturers, neaotiators, development aanaaer, eonaultants, profes.ionals and direetly involved managerial employees of the Developer is subjeet to the approval of the Department. 14 o o o - - o o v. [5500J !'RR ImVRLOPJ:R'S nRARr.YAL CAP.lCrn A. [1501J P:lftAfteial .A.'bllltv Prior to execution of the DDA, the Developer aha11 submit to the Department satisfactory evidence of its ability to finance and complete the development. B. [1502J Ccma~ruetlO11 Plnanein. the Deve10per'a proposed method of obtainina construction financina for the development of the Site aha11 be submitted to the Department concurrently with execution and delivery by the Developer of a DDA to the Department for approval. C. [1503J Lnft__Term Develqnment Finane:lIlR the Developer' a propoaed method of obtainina lons-term development financina shall be submitted to the Department concurrently with execution and delivery by the Developer of a DDA to the Department for approval. D. [1504J B.ft~ and Other FInanel.! Referanee. the Deve10per'a bank ia FarWeat Savinaa and Loan, 4001 Mac Arthur Boulevard, .ewport Beach, California 92660. 15 - lJ. o o E. [5505] Pull Dt.ela.ure o the Developer will be required to make and maintain full diacloaure to the Depar~ent of ita aethoda of financing to be uaed in the develoPlllent of the Site. VI. [5600] Cammi..ion'. ReaDOftaibilities A. [ 5601] aedevelonment Plan thia Aireeaent m1d the DDA are aubject to the proviaion of the ledeveloPllent Plan for the CElTW. CITY IOIT11 ledeveloPlllent Project which waa approved and adopted by the CODDon C01D1cll of the City of San Bernardino by Ordinance Ro. 3366 on AUGUST 6, 1973, aa ..ended by o Ordinance(s) Ro. IIC-56l. B. [5602] Publie BearlnR A DDA reaulting froa the neaotiationa hereunder ahall becoae effective only after and if the DDA has been conaidered and approved by the Department and by the COIDon C01D1cll of San Bernardino at public hearings called for auch purpose. o 16 ~ J o o VII. (1700] SPECIAL PROVISIOIlS o A. (1701] 2eal Eatate CftMMf..ion %he Department ahall not be liable for any real estate com.ission or brokerage feea Which aay arise herefrom. %he Department repreaents that it haa enaaged no broker, aaent or finder in connection with this tranaaction, and the Developer agreea to hold the Department harmless from any claim by any broker, agent or finder retained b7 the Developer. . B. (1702] Pre.. Releaaes. %he Developer agrees to discuss any presa rele...a with a deaianated Department representative prior to discloaure in order to aasure o accuracy and conalatency of the information. C. (1703] .ondl.~rimlnatlon. With respect to Developer's obliaationa and performance hereunder, the Developer shall not discriminate in any matter on the basis of race, creed, color, reliaion, aender, aarital status, national oriain or ancestry. o 17 o o o Jt o o D. (5704) Bot.lee. All noticea aiven or required to be aiven hereunder ahell be in writing and addressed to the partiea as aet out below, or to auch other address as may be noticed 1Dlder and purauant to thb parearaph. Any auch notice shall be considered aerved when actually received by the party intended, whether peraonally served or aent poatale prepaid by reaistered or certified mail, return receipt requeated. Department: Developllent Department of the City of San Bernardino 300 Borth "D" Street, Fourth Floor San Bernardino, CA 92418 Attn: Executive Director DeVeloper: WILMORE DBVELOPIIBIT CORPORATION 3080 Briatol Street Suite 250 Coata Meas, California 92626 E. (5705) Other ..reement... 18 o o o o o This Alre..ent supersedes any previous aare..ents entered into between the Developer end the Department or any discuesions or understendinas between the DeVeloper end the Department with respect to the Site. F. [5706] Warranty of Si.,...tors The signatories to this Agreement represent and warrant that they have the authority to execute this Alreement on behalf of the principals they purport to represent. VIII. [5800] LIMITATIONS OF TIllS AGRI!RMRl'IT By its execution of this Alreement, the Department is not cOllllDittina itself to or aareeina to undertake (a) disposition of land to the Developer; or (b) any other acts or activities requirina the subsequent independent exercise of discretion b7 the Department, the City or any agency or department thereof. This Agreement does not constitute a disposition of property or exercise of control over property b7 the Department or the City and does not require a public hearing. Execution of this Agreement b7 the Department is merely an agreement to enter into a period of exclusive negotiations accordina to the terms hereof, reservina final discretion and approval by the Department and the City as to any Disposition and 19 o o o o o Development Aareeaent and all proceedina. and deci.ione in connection therewith. IN WITHESS WHEREOF, the partie. hereto have executed thi. Aareeaent to be effective a. of the date of approval of the Department'a .overning board which 18 the date firat .et forth in th18 Alr_eent. DEVELOPER c........Lrr DBVILOPIIUr COJIIISSION OF rBB CIrr OF SAN BlRlIARDINO ON J,m&u' OF rBB DEVELOPMEftT DlPARrnuu: OF rBB CIrr OF SAN BIRlIARDINO IT CORPORATION By Izecutive Director APPROVED AS TO FORM AND LEGAL ~O: BY. . ~) Departm Counsel APPROVED AS TO PROGRAM: By ~ ~~ Deve pment lIana.er 3726B 20 .. o~. " o .. '. o : . .-...... .' - q s . I . ~I./, c . 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